Bulkcorp International to Ashapura Logistics: 5 SME IPOs open for subscription today, check key details

The recent successful listings of small and medium enterprises (SMEs) on stock exchanges have encouraged more such companies to tap the primary markets to raise funds. As many as five SME IPOs are opening for subscription on Tuesday, July 30, taking the total number of companies that have launched IPOs this month to 27.

Bulkcorp International (Issue size: ₹20.78 cr)

Bulkcorp International is one of the leading manufacturers of food-grade bags, offering a range of packaging solutions, such as FIBC (jumbo bags) and container liners.

The company’s ₹20.78-crore IPO is open for subscription between July 30 and August 1. The IPO is a 100% book-built issue comprising a fresh issuance of 19.79 lakh shares, with no offer-for-sale (OFS) component entirely.

The IPO price band has been fixed at ₹100-₹105 per share. The minimum bidding quantity, or lot size, for an application is 1,200 shares.

The share allotment for the IPO is expected to be finalised on August 2, with the listing expected on August 6.

Sathlokhar Synergys (Issue size: ₹92.93 cr)

Sathlokhar Synergys E&C Global Ltd is a Chennai-based industrial construction company. It undertakes the construction of buildings and infrastructure facilities, such as industrial, warehouse, commercial, institutional, hotels, and pharmaceutical projects, as well as hospitals, marriage halls, resorts, and solar projects. It also offers project management consultancy services.

The IPO of the company is open for bidding from July 30 to August 1. The ₹92.93-crore Sathlokhar Synergys IPO is a book-building issue made up entirely of fresh issuance of 66.38 lakh shares.

The IPO price band has been fixed at ₹133-₹140 per share, with a lot size of 1,000 shares.

The allotment for the Sathlokhar Synergys IPO is expected to be finalized on August 2. The stock is expected to be listed on the NSE Emerge platform on August 6.

Kizi Apparels (Issue size: ₹5.58 cr)

Incorporated only last March 2023, Kizi Apparels Ltd. produces and trades ready-to-wear clothing through its showrooms, distributors, malls, and online platforms. The company has launched its e-commerce platform, offering apparel under the brand names Anutarra and Kizi.

The company is launching its ₹5.58-crore IPO on July 30. The issue will close for subscription on August 1.

Kizi Apparels IPO is a fresh issuance of 26.58 lakh shares with no OFS component. It’s a fixed-price issue, with shares being offered at ₹21 apiece in a lot size of 6,000 shares.

The allotment for the Kizi Apparels IPO is expected to be finalized on August 2, and the listing is expected on August 6.

Ashapura Logistics (Issue size: ₹52.66 cr)

Established in 2002, Ashapura Logistics Ltd is a logistics company that specializes in handling cargo and forwarding freight transportation, warehousing, distribution and other services that include coastal movement.

The Ashapura Logistics IPO is a 100% book-built issue that aims to raise a total of ₹52.66 crore. The IPO is entirely a fresh issuance of 36.57 lakh shares with no OFS component.

The price band of the issue is fixed at ₹136-₹144 per share, while the lot size for an application is 1,000 shares.

The issue opened for subscription on July 30. The bidding window will close on August 1. The IPO share allotment status is expected to be finalised on August 2, and the shares should be listed on the NSE SME platform Emerge on August 6.

Rajputana Industries (Issue size: ₹23.88 cr)

Rajputana Industries Ltd is engaged in manufacturing and supplying non-ferrous metal products like copper, aluminium, brass, and various alloys from recycled scrap metal procured from the open market. The company is now also producing cables to expand its product portfolio.

The ₹23.88-crore Rajputana Industries IPO is a 100% book-built issue comprising entirely a fresh issuance of 62.85 lakh shares.

The price band is set at ₹36 to ₹38 per share, while the minimum bid quantity for an application is 3,000 shares.

The IPO opens for subscription on July 30 and closes on August 1. The allotment of shares is expected to be finalized on August 2, while the stock is expected to be listed on August 6.